The Rookie Academy is a registered Learning Provider for a Career Development Loan.
Quite simply, a CDL is a deferred repayment bank loan to help you pay for vocational learning or education.
- You can borrow anything between £300 and £8,000 to help you fund up to two years of learning plus (if relevant) up to one year’s practical work experience where it forms part of the course.
- The Learning and Skills Council (LSC) pays the interest on your loan while you’re learning and for up to one month afterwards. If you finish the course before the agreed date, the repayment holiday will end up to one month after your last day of training.
- You then repay the loan to the bank over an agreed period at a fixed rate of interest.
- CDLs are available through three high street banks: Barclays, The Co-operative and The Royal Bank of Scotland. You do not need to be an existing account holder but the bank may require you to open an account with them.
Who is eligible for a CDL?
Anyone aged 18 or over can apply for a Career Development Loan subject to the following rules and subject to meeting the requirements of the Bank to which they are applying.
To qualify for a CDL you must be ordinarily resident in Great Britain (i.e. England, Scotland or Wales) and have an unlimited right to remain in the United Kingdom (UK). You will not qualify for a CDL if your right to remain within the UK is subject to any restrictions e.g. if you hold a study visa. You must intend to work within the European Union (EU) or in Iceland, Norway or Liechtenstein once you have finished your course. You cannot apply for a CDL if you have reasonable or adequate access to funds to pay for the course yourself.
Get free, impartial advice on Career Development Loans. Call an advisor on 0800 585 505 or go to www.direct.gov.uk/cdl.
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